U.S. law firm Schulte Roth & Zabel is suing its former client 26 Capital Acquisition Corp to recover more than $1.9 million in legal fees following the special acquisition company’s failed merger with the Philippines’ largest casino.
The law firm on Tuesday asked Delaware’s Court of Chancery to block 26 Capital, a SPAC, from dissolving before it pays its alleged legal fees. Schulte had advised 26 Capital on its planned $2.5 billion SPAC merger with Okada Manila, an affiliate of Japan’s Universal Entertainment (6425.T).
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